Sun Communities, Inc. (NYSE:SUI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Sun Communities, Inc. (NYSE:SUI) have been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $135.55.

Several brokerages have weighed in on SUI. Jefferies Financial Group dropped their price objective on Sun Communities from $145.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. UBS Group downgraded Sun Communities from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $155.00 to $134.00 in a research report on Thursday, November 14th. Wells Fargo & Company lowered their price target on shares of Sun Communities from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com cut Sun Communities from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Bank of America downgraded shares of Sun Communities from a “neutral” rating to an “underperform” rating and cut their price target for the company from $147.00 to $114.00 in a report on Tuesday, November 12th.

Sun Communities Stock Down 1.6 %

Shares of NYSE SUI opened at $131.50 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50-day moving average price of $126.90 and a 200-day moving average price of $129.66. The stock has a market capitalization of $16.75 billion, a P/E ratio of 70.70 and a beta of 0.90. Sun Communities has a 1 year low of $110.98 and a 1 year high of $147.83.

Sun Communities (NYSE:SUI) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Sun Communities had a return on equity of 3.21% and a net margin of 7.46%. The firm had revenue of $745.90 million during the quarter, compared to analyst estimates of $724.68 million. On average, equities research analysts forecast that Sun Communities will post 6.77 EPS for the current fiscal year.

Institutional Trading of Sun Communities

Institutional investors and hedge funds have recently modified their holdings of the company. Legacy Trust purchased a new stake in Sun Communities during the 4th quarter valued at approximately $625,000. Aurora Investment Managers LLC. increased its position in Sun Communities by 9.7% in the fourth quarter. Aurora Investment Managers LLC. now owns 27,490 shares of the real estate investment trust’s stock worth $3,380,000 after purchasing an additional 2,435 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Sun Communities by 16.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 779,744 shares of the real estate investment trust’s stock valued at $95,885,000 after purchasing an additional 108,054 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Sun Communities by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 77,203 shares of the real estate investment trust’s stock worth $10,434,000 after purchasing an additional 5,008 shares during the period. Finally, VCI Wealth Management LLC purchased a new stake in Sun Communities in the fourth quarter worth $1,312,000. 99.59% of the stock is currently owned by institutional investors.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.